ESG issues fully embraced by AFL’s governance bodies  

Corporate responsibility is deeply rooted in our bank’s DNA and as such, CSR considerations are embedded within our decision-making process. Consequently, all governing bodies are involved in the governance of CSR issues as part of their duties.

 At mother-company level (AFL-ST):

The Board of Directors (BD)

sets the Group’s strategic priorities, including its CSR strategy.

The two committees assisting the Board now also act on CSR issues

- The remunerations, appointments and corporate governance committees now handles issues of compliance, ethics and governance on behalf of the Board of Directors,
- The audit and risks committee handles risk management issues on behalf of the Board of Directors.

AFL-ST’s annual general meeting

gathering all shareholder local authorities is presented with the CSR strategy.

At AFL level, as a specialist credit institution:

The supervisory board (SB)

sets AFL’s multi-annual CSR strategic priorities, as well as its action plan. It also evaluates the results achieved. The SB approves the ethics charter and its different implementation policies.

The three committees assisting the SB shall participate in CSR-related areas

- The strategy and sustainability committee
- The remunerations, appointments and corporate governance committees now handle issues of compliance, ethics and governance and remuneration on behalf of the SB,
- The risks committee handles risk management issues on behalf of the SB.

Focus on the strategy and sustainability committee

This comittee handles the definition and deployment of AFL’s Climate and Sustainable Finance Roadmap.

In-house, several of AFL’s governance bodies deploy its ESG strategy:

The Management Board

suggests and implements AFL’s CSR Climate and Sustainable Finance Roadmap.

The Director - Engagements & Climate & Sustainable Finance Risks, also a member of the Management Board,

steers the initiatives conducted under the CSR Climate and Sustainable Finance Roadmap. She is also directly responsible for risk management and compliance. Considering that corporate responsibility standards are highly intertwined within the Group, each department is in charge of the initiatives within its field of action.

The CSR Climate & Sustainable Finance Committee

is the body that steers AFL’s CSR Climate and Sustainable Finance Roadmap. Led by AFL’s Chairman of the Management Board, the committee meets every quarter. The committee is attended by members of the Management Board and by representatives of all divisions within AFL.

Find out more about AFL’s governance

AFL's governance

Discover more about ESG at AFL

Our ESG commitments

Ethics and responsibility

“Embody responsible finance to empower local
communities
to meet the present
and future needs of their inhabitants."

A responsible bank

AFL is committed to working with us, local authorities, to lead the energy and social transitions that are coming and are necessary.

A responsible company

AFL is directly committed as a company to the planet and to its employees.